About IFIs and IFFOs:
The OPEC Fund for International Development is an international financial institution established in 1976 by member countries of the Organization of the Petroleum Exporting Countries (OPEC).
For reference: The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization uniting 12 oil producing countries: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, Venezuela.
Cooperation with the Republic of Uzbekistan:
Cooperation with the OPEC Fund dates back to 2000, when the Agreement on Promotion and Protection of Investments was signed between the Republic of Uzbekistan and the OPEC Fund.
In accordance with this Agreement, a credit line in the amount of $5 million was opened for the National Bank to finance small and private business projects.
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